UMB Bank n.a. Sells 563 Shares of Franklin Resources, Inc. (NYSE:BEN)

UMB Bank n.a. decreased its position in Franklin Resources, Inc. (NYSE:BEN) by 19.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,363 shares of the closed-end fund’s stock after selling 563 shares during the period. UMB Bank n.a.’s holdings in Franklin Resources were worth $48,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. MFA Wealth Advisors LLC purchased a new stake in shares of Franklin Resources during the third quarter valued at $26,000. Matrix Trust Co bought a new position in Franklin Resources during the third quarter valued at approximately $29,000. Larson Financial Group LLC boosted its holdings in Franklin Resources by 254.4% in the third quarter. Larson Financial Group LLC now owns 1,779 shares of the closed-end fund’s stock worth $36,000 after purchasing an additional 1,277 shares during the last quarter. Brooklyn Investment Group purchased a new stake in Franklin Resources during the 3rd quarter valued at $39,000. Finally, Northwest Investment Counselors LLC bought a new position in shares of Franklin Resources during the 3rd quarter valued at $41,000. 47.56% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on BEN shares. Barclays dropped their target price on Franklin Resources from $21.00 to $19.00 and set an “underweight” rating on the stock in a research report on Friday, January 17th. Morgan Stanley lifted their price target on shares of Franklin Resources from $18.00 to $19.00 and gave the stock an “underweight” rating in a research note on Friday, December 20th. Wells Fargo & Company lowered their target price on Franklin Resources from $22.50 to $20.50 and set an “equal weight” rating on the stock in a research report on Tuesday, January 14th. StockNews.com raised Franklin Resources from a “sell” rating to a “hold” rating in a research note on Thursday, November 14th. Finally, Keefe, Bruyette & Woods reiterated an “underperform” rating and set a $19.00 price objective (down from $20.00) on shares of Franklin Resources in a research note on Tuesday, November 5th. Four analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $20.18.

Franklin Resources Stock Performance

NYSE BEN opened at $20.08 on Friday. The stock has a market capitalization of $10.52 billion, a PE ratio of 23.35, a P/E/G ratio of 1.28 and a beta of 1.41. Franklin Resources, Inc. has a 1-year low of $18.83 and a 1-year high of $28.61. The business has a 50 day simple moving average of $20.97 and a two-hundred day simple moving average of $21.08. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.63 and a quick ratio of 1.63.

Franklin Resources (NYSE:BEN) last issued its quarterly earnings data on Monday, November 4th. The closed-end fund reported $0.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.01). The company had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $1.70 billion. Franklin Resources had a net margin of 5.48% and a return on equity of 9.62%. The company’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same quarter last year, the company earned $0.84 earnings per share. On average, research analysts predict that Franklin Resources, Inc. will post 2.32 EPS for the current fiscal year.

Franklin Resources Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Monday, December 30th were issued a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 6.37%. This is an increase from Franklin Resources’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend was Monday, December 30th. Franklin Resources’s dividend payout ratio is presently 148.84%.

Franklin Resources Profile

Franklin Resources, Inc is a publicly owned asset management holding company. Through its subsidiaries, the firm provides its services to individuals, institutions, pension plans, trusts, and partnerships. It launches equity, fixed income, balanced, and multi-asset mutual funds through its subsidiaries.